Have you ever thought of what it actually means to be a bank’s owner-customer? The logic behind owner-customer membership can be described, for example, by comparing it with holding shares in a public limited company. Ownership in a cooperative is linked to the role as a customer, not as an investor.
The aim of owner-customer membership is to make every household engage in collective development while providing them with information on issues in their neighbourhood.
Cooperative | Limited liability company | |
---|---|---|
Who owns the company? | Owner-customers | Shareholders |
Who holds the decision-making power? | Each member has one vote | Voting rights vary depending on the number of shares owned |
How are profits distributed? | To owner-customers based on the use of services | To shareholders based on shareholdings |
What is the purpose of operations? | Providing services to members of the cooperative | Profit maximisation |